Several factors play a role in determining which Bitcoin exchange is the best for you. In the last 6 months alone, more than a dozen new Bitcoin exchanges have been created. At this point it is important to choose the right Bitcoin exchange to have an easy entry into the Bitcoin world. At the same time you have to secure your transactions optimally. The issue of security when buying Bitcoin is at the forefront. Followed by the fees and the beginner friendliness.
The following ranking list presents the best Bitcoin exchanges according to these criteria for buyers who live in Germany, Austria and Switzerland.
Important to note is whether one would like to buy Bitcoin with euro, US dollar or other currencies. Different stock exchanges offer different conditions. The list above shows the best exchanges for buying Bitcoin with Euro or US Dollar.
Are you buying Bitcoin for the first time?
In this case it is good if you consider the above criterion “beginner friendly”. Otherwise it can become quite confusing at the beginning with a new registration on a Bitcoin stock exchange. Many stock exchanges are aimed more at advanced Bitcoin buyers and offer a variety of charts and other crypto currencies for purchase. To find a good bitcoin exchange compare them at http://www.bestbitcoinexchange.net and pick the one best for your needs.
How can I buy Bitcoin on one of these exchanges?
First look through the list above and select 1-2 exchanges that meet your personal requirements. We recommend registering with more than one Bitcoin exchange, as the verification process is very different. With some exchanges you get the activation in a few hours, with others it takes several days. Therefore it is best to play it safe and register with several exchanges.
After the registration has been confirmed by the stock exchange, you will receive an email. After that you can log in directly with your account and see the customer area. Now it is time to deposit money which can be exchanged into Bitcoin, Ethereum and other crypto currencies. With the deposit possibilities one has usually the selection from several options. Details are listed in the table above. After your money has been transferred to the stock exchange, you can then directly enter and order a Bitcoin purchase on the stock exchange. For the purchase most stock exchanges charge a fee which lies between 0.2 and 1.5% of the purchase value. This is very similar to buying securities from your bank.
In most cases, the purchase itself is completed within a few minutes. Immediately after the purchase (or sale) you see the entry on the stock exchange with the note “Pending” or “Note”. The actual trade in the background can take up to 10 minutes. In times when a lot of Bitcoin transactions take place, this can happen even more. But don’t worry, as soon as the transaction is marked, you have, so to speak, the confirmation of the stock exchange that everything is in the green.
Which is the largest Bitcoin stock exchange?
Worldwide this is Coinbase and its sister site GDAX. GDAX is mainly used for trading crypto currencies with each other, for example to exchange Bitcoin for Ethereum. Not to exchange Euro or US Dollar for crypto currencies. In Europe the largest exchanges are eToro, IQ Option, Bitcoin.de and Coinmama.
When is the best time to buy?
A crisis is always a good opportunity. Never buy when everyone else does, it might be too late. There is an interesting article at Rosarionet.
Which is the best stock exchange to buy Bitcoin?
This cannot be answered in a general way because it depends very much on personal preferences. Similar to the various traditional banks, the customer service and the ambience at one bank is good and at the other bank not at all.
- Stock exchanges with low fees, high security and a clear interface are important, especially if you are a beginner.
- Here eToro.de and IQ Option are especially recommended. Both also have a German interface. CEX.IO and Coinbase are also very clear, but there is only the English language option here.
- Of course, an important point is also the deposit options. If, for example, you want to buy Bitcoin very quickly, the credit card option is recommended. Because a bank transfer often takes 2-4 working days.
You should know exactly what you do and be aware of things like hyperinflation when you buy BTC. Read more about it at Diariocontraste.com.
How can I buy and store Bitcoin securely?
Please read our section about Bitcoin Wallets. We strongly recommend that you transfer your coins into a personal Bitcoin Wallet immediately after purchase. This can be an online wallet, a wallet on your mobile phone, a hardware wallet or a cold wallet. This order is ordered by security level, whereby a Bitcoin Cold Wallet is the most secure. There have been several cases in the past in which hackers have successfully gained access to user credit in some Bitcoin exchanges. The track record of the exchanges is reflected in the above table under the item “Reputation”.
Can I buy Bitcoin anonymously?
Today you can buy most anonymously.